Ministry of Finance

Details of Central Taxes collected by the Union Government

Dated: 08 MAR 2021

Giving details of the taxes which are solely collected by the Union Government, Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha today, stated them as under:-

Direct Taxes

Corporation Tax, Income Tax, Other Taxes in Income & Expenditure, Wealth Tax, Security

Transaction Tax and Other Tax and Duty on Commodities & Services.

Indirect Taxes

Central GST, Union Excise Duty on petroleum products & tobacco and Custom duties. Out of these, levy and collection of Union Excise Duty on products outside GST and Custom Duty is done solely by the Union Government. However, under the GST, both the Union and States have concurrent powers to levy and collect tax.

The Minister further gave the tax-wise target for Central taxes to be collected from 1^st April, 2020 to 31^st March, 2021, tax-wise is as under:- 

Direct Taxes (Rs. in Crore)
Major Head	Revised Target
Corporation Tax	4,46,000
Taxes on Income	4,47,000
Security Transaction Tax	12,000
Indirect Taxes (Rs. in Crore)
Major Head	Revised Estimate
Custom Duty	1,12,000
Union Excise Duty	3,61,000
Service Tax (arrears)	1,400
Goods and Services Tax including CGST, IGST & Compensation Cess	5,15,100

The Minister gave further details of amount of Central taxes which have been collected till 31^st December, 2020 (for financial year 2020-21) as under:

Particulars	Net Collection (Rs. in Crore)
Direct Taxes	6,20,529.14
Indirect Taxes	7,12,231.78

The releases of States’ Share/Tax Devolution is as per the accepted recommendations of Finance Commission for its award period, the Minister stated. The State-wise details of States’ share and releases is as per Annexure.

****

RM/KMN
(Release ID: 1703238)

 

(Rs. Crore)

SI.No.	State	RE 2020-21	Amount Released till December 2020	Amount Released Till February 2021
1	Andhra Pradesh	22610.63	15278.04	18259.16
2	Arunachal Pradesh	9680.58	6540.89	7817.30
3	Assam	17220.36	11636.07	13906.49
4	Bihar	55333.96	37390.79	44686.08
5	Chhattisgarh	18799.43	12702.69	15181.35
6	Goa	2122.84	1434.63	1714.49
7	Gujarat	18689.43	12628.34	15092.49
8	Haryana	5950.69	4021.13	4805.66
9	Hjmachal Pradesh	4394.39	2969.32	3548.69
10	Jharkhand	18221.38	12312.49	14714.86
11	Karnataka	20053.41	13549.95	16193.95
12	Kerala	10686.05	7220.98	8629.82
13	Madhya Pradesh	43373.46	29307.56	35026.19
14	Maharashtra	33743.27	22800.13	27249.10
15	Manipur	3948.86	2668.42	3189.04
16	Meghalaya	4207.39	2843.05	3397.79
17	Mizoram	2782.86	1880.51	2247.40
18	Nagaland	3151.38	2129.50	2544.97
19	Odisha	25459.63	17203.26	20560.01
20	Punjab	9833.61	6644.95	7941.41
21	Rajasthan	32885.23	22220.31	26556.17
22	Sikkim	2133.88	1441.98	1723.31
23	Tamil Nadu	23039.46	15568.00	18605.64
24	Telangana	11731.76	7927.10	9473.89
25	Tripura	3899.38	2634.91	3149.00
26	Uttar Pradesh	98618.07	66638.81	79640.82
27	Uttarakhand	6071.92	4102.89	4903.44
28	West Bengal	41353.45	27943.70	33395.82
	TOTAL	549996.76	371640.40	444154.34

 

 

 

Ministry of Finance

Disputes amounting to Rs. 98,328 crore are resolved under Vivad se Vishwas Scheme till 1st March 2021

Dated: 08 MAR 2021

A total of 1,28,733 Declarations have been filed in Form 1 till 1^st March, 2021 by taxpayers. These include 1,393 declarations by Central PSUs and 833 declarations by State PSUs/ boards. Declarations have been filed by taxpayers for resolution of Tax disputes amounting to Rs. 98,328 crore till 1^st March 2021. Payment of Rs. 53,346 crore have been made by taxpayers under the scheme till 1^st March 2021.

This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha today.

The Minister further said that amicable resolution of large number of pending tax disputes was the primary objective of the scheme. Collection of revenue blocked in litigation is an added advantage that has accrued to the Government. The total number of pending tax disputes as on the Eligibility date was 5,10,491. The 1,28,733 declarations relate to 1,43,126 pending disputes (including cross appeals). Thus, the declarations received under the scheme cover more than 28% of pending tax disputes, the Minister stated.

Giving more details, the Minister stated that in order to impart greater efficiency, transparency and accountability to the process of disposal of appeals by the Commissioner (Appeals), the Faceless Appeals Scheme, 2020 was notified on 25.09.2020. Under this scheme, appeals before the Commissioner (Appeals) will be disposed by eliminating the interface between the Commissioner (Appeals) and the appellant in the course of appellate proceedings to the extent technologically feasible.

However, appeals relating to serious frauds, major tax evasion, sensitive & search matters, International tax and Black Money Act will not be covered by the scheme, the Minister stated.

The Finance Bill, 2021 has further proposed a number of measures for better dispute resolution mechanism which are discussed below:-

(i) Faceless Income-tax Appellate Tribunal (ITAT):

The Finance Bill, 2021 has proposed to empower the Central Government to notify a scheme for the purposes of disposal of appeal by the ITAT so as to impart greater efficiency, transparency and accountability by eliminating the interface between the ITAT and parties to the appeal in the course of proceedings to the extent technologically feasible, optimising utilisation of the resources through economies of scale and functional specialisation and introducing an appellate system with dynamic jurisdiction.

(ii) Dispute Resolution Committee (DRC):

With the objective to allow small taxpayers to resolve their disputes with minimum cost and compliance burden, the Finance Bill, 2021 has proposed to create one or more DRC specifically targeted towards such taxpayers. The DRC shall have the powers to reduce or waive any penalty imposable or grant immunity from prosecution for any offence under the Income tax Act, 1961 (“the Act”).The Finance Bill, 2021 has also empowered the Central Government to make a scheme by notification in the Official Gazette for the purpose of dispute resolution by DRC. The scheme shall impart greater efficiency, transparency and accountability by eliminating interface to the extent technologically feasible, by optimising utilisation of resources and introducing dynamic jurisdiction.

(iii) Board for Advance Rulings (BAR):

With a view to avoiding dispute in respect of assessment of tax liability and to provide tax certainty, the Authority for Advance Rulings (AAR) was constituted vide the Finance Act, 1993 by inserting a new Chapter XIX-B in the Act. In order to enhance the effectiveness of advance rulings, the Finance Bill, 2021 has proposed to replace the AAR by one or more BAR for giving advance rulings under the Act. Every such Board shall consist of two members, each being an officer not below the rank of Chief Commissioner. The Finance Bill, 2021has also proposed to empower the Central Government to make a scheme by notification in the Official Gazette for the purpose of giving advance ruling by BAR to impart greater efficiency, transparency and accountability by eliminating interface between the Bar and the applicants to the extent technologically feasible, by optimising utilisation of resources and introducing dynamic jurisdiction.

(iv) Interim Board for Settlement (“Interim Board”):

The Finance Bill, 2021 has proposed to discontinue Income-tax Settlement Commission (ITSC) with effect from 01.02.2021. The pending cases for settlement shall be disposed by the Interim Board to be constituted by the Central Government. Further, the Finance Bill, 2021 proposes to empower the Central Government to make a scheme, by notification in the Official Gazette, for the purposes of settlement in respect of pending applications by the Interim Board, so as to impart greater efficiency, transparency and accountability by eliminating the interface between the Interim Board and the assessee in the course of proceedings to the extent technologically feasible; optimising utilisation of the resources through economies of scale and functional specialisation; and introducing a mechanism with dynamic jurisdiction.”

****

RM/KMN
(Release ID: 1703235)

 

Government of India

Department of Revenue

Ministry of Finance

Central Board of Direct Taxes

New Delhi, 7th March, 2021

PRESS RELEASE

Income Tax Department conducts searches in Tamil Nadu

The Income Tax Department carried out searches on 04.03.2021 in the case of two Chennai based groups, one of which is a leading bullion trader in Tamil Nadu and the other is one of the biggest jewellery retailers in South India. The search operation was carried out at 27 premises located in Chennai, Mumbai, Coimbatore, Madurai, Trichy, Trissur, Nellore, Jaipur and Indore.

The evidences found in the premises of the bullion trader revealed that there were unaccounted cash sales; bogus cash credits from its branches; cash credits in dummy accounts in the guise of advance for purchases; unexplained cash deposits during the demonetization period; bogus outstanding sundry creditors; and huge unexplained stock variations.

The evidences found in the premises of the jewellery retailer revealed that the taxpayer received and repaid cash loans from local financiers; had given cash loans to builders and made cash investments in real estate properties; made unaccounted gold bullion purchases; claimed wrongful bad debts; inflated wastages in conversion of old gold to fine gold and jewellery making, etc.

The searches, so far, have resulted in the detection of undisclosed income of more than Rs. 1000 crore. Unaccounted cash of Rs. 1.2 crore has been seized so far.

Further investigations are in progress.

(Surabhi Ahluwalia)

Commissioner of Income Tax

(Media & Technical Policy)

Official Spokesperson, CBDT

 

Government of India

Department of Revenue

Ministry of Finance

Central Board of Direct Taxes

New Delhi, 4th March, 2021

PRESS RELEASE

Income Tax Department conducts searches in Mumbai

The Income Tax Department is carrying out search and survey operations which started on 03.03.2021 on two leading film production companies, a leading actress and two Talent Management companies in Mumbai. Search operation is being carried out at Mumbai, Pune, Delhi and Hyderabad. The group is mainly engaged in the business of Production of Motion Pictures, Web Series, acting, direction and talent Management of celebrities and other artists. A total of 28 premises are being covered in different locations which includes residences and offices.

During the search, evidence of huge suppression of income by the leading Film Production house compared to the actual box office collections has been unearthed. The company officials have not been able to explain discrepancy of around Rs. 300 crore. 

Evidence related to manipulation and under-valuation of share transactions of the production house amongst the film directors and shareholders, having tax implication of about Rs. 350 crore has been found and is being further investigated.

Evidence of cash receipts by the leading actress amounting to Rs 5 crore has been recovered. Further investigation is going on. 

Apart from this, non-genuine/bogus expenditure to related concerns by the leading producers/directorhaving tax implication of about Rs. 20 crore has been detected. Similar findings have been made in the case of the leading actress also.

At the office premises of the two talent management companies, huge amount of digital data has been seized in the form of emails, whatsapp chats, hard disk etc which are under investigation.

During the search, 7 bank lockers have been found which have been placed under restraint. Search is continuing in all the premises.

(Surabhi Ahluwalia)

Commissioner of Income Tax

(Media & Technical Policy)

Official Spokesperson, CBDT

 

Government of India

Department of Revenue

Ministry of Finance

Central Board of Direct Taxes

New Delhi, 4th March, 2021

PRESS RELEASE

Income Tax Department conducts searches in Tamil Nadu

The Income Tax Department carried out search and seizure operations on 03-03-2021 on two groups of civil contractors in Southern Tamil Nadu. Searches and surveys were conducted in 18 premises mainly in Madurai and Ramnad districts.

Based on intelligence inputs about the existence of cash, which is likely to be distributed for election purposes, searches were mounted on the business groups. The action resulted in the finding of unaccounted cash of Rs. 3 crore which was seized.

Other findings include the identification of the fact that the assessee is booking bogus expenses under various heads to reduce the profits. The declared profits were less than 2% of the turnover, when in actual accounts the profits exceeded 20%. Similarly more than 100 subcontractors were introduced to book expenses to meet illegal payments, and on-money payments for property purchases. These subcontractors introduced, had filed returns of income from the same IP address, and for the first time ever, showing only this receipt as their sole income.

As a result of the search, unaccounted income of Rs. 175 crore has been detected and unaccounted cash of Rs. 3 crore has been seized.

Further investigations are in progress.

(Surabhi Ahluwalia)

Commissioner of Income Tax

(Media & Technical Policy)

Official Spokesperson, CBDT